The second edition of the PwC global survey analyses key aspects of government accounting and reporting around four themes: accounting practices, budgeting practices, IT environment and finance function.

Insurance is facing more disruption than any other industry, posing threats for some and opening up promising commercial possibilities for others. What does this mean for your business? Are you equipped to compete?

In the wake of an extended period of financial challenges, airlines stand to gain significant benefits from unexpected periods of reduced fuel prices, which in the short term have resulted in increased profits. How are airlines responding? And what are the long-term implications?

The technology sector sits at the epicenter of business change. With such dramatic industry convergence and business transformation under way, companies and their internal audit functions are inherently faced with new and more complex risks and how to adequately address and monitor those risks.

This in-depth report looks at 2015-2019 growth by component, region and application with particular focus on the role of semiconductors in the IoT ecosystem and how companies can capture value from this developing megatrend.

The country summaries, written by our local PwC tax specialists, include recent changes in tax legislation as well as key information about income taxes, residency, group taxation,… All information in this book, unless otherwise stated, is up to date as of 1 June 2014.

Financial services (FS) CEOs are more concerned than ever about the limited availability of key skills. The growing challenge reflects the fact that the people they need to succeed and how they're recruited and deployed are undergoing fundamental change.

Many life and pensions businesses are scrambling to keep pace with the increasing impact of digital in their marketplace. But the ways in which they’re responding are too slow. Could there be a faster, cheaper and more flexible way to grasp the digital potential?

Non-life insurers are being left behind by the rapid changes in customer expectations. How can digital innovation help them to engage more closely with customers and what untapped commercial opportunities would this open up?

Operating in mature markets is a real challenge, particularly in terms of realising shareholder growth expectations. While realising growth is one thing, realising profitable growth is altogether different. Vlerick and PwC are working together to investigate the models and drivers behind profitable growth.

Visa and immigration services have been integral to the business of PwC for many years and form part of the suite of services provided to corporations who have an international focus and move people throughout the world.

Visa and immigration services have been integral to the business of PwC for many years and form part of the suite of services provided to corporations that have an international focus and move people throughout the world.

Visa and immigration services have been integral to the business of PwC for many years and form part of the suite of services provided to corporations who have an international focus and move people throughout the world.

Visa and immigration services have been integral to the business of PwC for many years and form part of the suite of services provided to corporations who have an international focus and move people throughout the world.

With growth no longer a given, shipping and offshore companies are being forced to take a critical look at their business models. To survive, the traditional shipping industry will have to operate more flexibly.

This study shows that working capital continues to present a significant opportunity for releasing cash and should therefore receive special attention as companies seek to take full advantage of the global economic upturn.

Power & utilities (P&U) CEOs are wary about the economy and their own revenue prospects. They’re seeking growth amidst global disruption by facing new competitors and looking for opportunities across industry borders.

Our banking & capital markets (BCM) clients tell us they have three major priorities – finding growth in a challenging environment, driving productivity and getting ahead of risk and regulatory management.

Europe’s real estate industry expects to be busier and more profitable in 2015. This optimism is clear, despite weak fundamentals and economic conditions as well as an undercurrent of concern about the geopolitical situation in parts of the world.

The unprecedented scale of regulatory reform continues to challenge the banking industry. More recently, stress testing has become one of the primary prudential regulatory tools in the drive to enhance the resilience of the banking sector. And this extends well beyond informing required capital levels.

This publication highlights PwC Belgium’s track record of helping clients deliver change both nationally and cross Europe. By embracing the opportunities brought by change and calling on a global network of expertise, we can help you empower the future.

High ticket pricing is just one reason why US theatrical box office declined over the summer. PwC takes a fresh look at the key factors driving attendance at movie theaters, and what consumers say can motivate greater movie viewership amid growing competition.

Protecting against a new breed of emerging risks requires co-ordination across corporations, insurance companies and policymakers. Insurance brokers are ideally placed to lead this ‘risk facilitation’. But as the pace of change within the marketplace accelerates, a major rethink of how they operate and compete is likely to be needed.

Communication review Yes, the commercial use of consumer mobile data is advancing, but we believe there’s another powerful application of big data for companies to tap into: hiring, engaging, and enabling a highly-skilled, competitive work force.

This survey offers a unique picture of the aggregate views of Europeans across 10 countries on the state of public finance and on their expectations for improvement by governments. Discover all the key findings now.

Financial institutions have been addressing information security and technology risks for decades. However, a proliferation of cyber events in recent years has revealed that the traditional approach is no longer sufficient.

PwC’s 2014 Global Banking Risk Culture Survey shows that nearly 40% of respondents do not think there is a complementary balance of power between the risk and business functions within their institutions. Do you have the right risk culture at your bank?

A global study conducted by management consultancy Strategy&, part of the PwC network of firms, in collaboration with INSEAD eLab, supports that companies with leading *Demand Analytics (DA) capabilities are demonstrating higher commercial performance levels than competitors.

Our global survey of 1,135 executives, conducted by The Economist Intelligence Unit, looks at the most significant decisions about the strategic direction of the business and the impact of data and analytics.

PwC has conducted a series of surveys of investment professionals aimed at maximising the effectiveness of corporate reporting. More integrated reporting could enhance investment professionals’ analysis.

Traditional media companies have recently started partnering with or acquiring multichannel networks. The next step is to help the networks produce more content, seek out global audiences, and diversify their distribution and revenue streams beyond YouTube.

For its " Up close and professional:the family factor" report, PwC interviewed globally almost 2,400 family firms in 42 countries, from entrepreneurial start-ups to companies that have survived for five generations or more. PwC spoke to family members who manage their firms, and CEOs who had been brought in from outside.

PwC conducted a study on behalf of the European Commission on the future implementation of European Public Sector Accounting Standards (EPSAS) by the EU member states. Discover the key conclusions here.

An integrated report is a concise communication about how a company’s strategy, governance, performance, and prospects lead to the creation of value in the short, medium, and long term. Read more about it here.

Shortcomings in accounting, reporting and financial reporting within much of the public sector in Europe are a major risk for the sustainability of public finances in many European countries. Discover 10 insights in a joined PwC-ICAEW report.

The search for cost savings, improving customer experience and responding quickly to customer demand for new products is pushing communication service providers to replace their legacy business support systems.

This year’s report includes a number of specific questions that explore CEO’s attitudes towards a variety of tax issues and delves into that data, offering insight into the potential impact of tax planning on corporate reputation and stakeholder trust.

The PwC Global R&D Incentives Group, part of the PwC Global International Tax Services Network, has assisted hundreds of clients around the world in structuring their R&D programmes, improving their return on investment in research and their effective tax rate.

Next Generation Family Business Survey 2014: A snapshotFamily businesses take a long-term view of business, can make decisions quickly, and have an approach based on trust and personal relationships … but the transition from one generation to the next is a potential fault-line which can make or break the business.

The five behaviours that accelerate value from digital investmentsDiscover how the five behaviours identified can help improving your organisation’s growth revenue, profitability and innovation. Read everything about it in our 6th Annual Digital IQ survey.

Room to growThis third edition of our European cities hotel forecast is published against a backdrop of a region that has taken an economic pounding but is seeing clear evidence of economic recovery and returning confidence

Asset management CEOs are increasingly optimistic this year, reflecting the recent rise in equity markets and a strong outlook for their businesses over the years to 2020. They’re actively investing for growth, looking to making acquisitions, add headcount and increase technology spending.

Reaching global consumers – especially through technological innovation – is high on the agenda for both retail and consumer goods CEOs. That’s why these CEOs are not worried about the speed of technological change. On the contrary: they embrace it as a golden opportunity to find new customers.

What’s driving climate change action in the world’s largest companies?Find what’s behind the climate change action being taken by the globe’s biggest players in the Benelux 150 and Global 500 Climate Change Report 2013.

Fit for the future - Capitalising on global trendsOur 17th Global Annual CEO Survey is now live! This year's theme is 'Fit for the future - capitalising on global trends' - we'll be exploring the three main challenges that most organisations face in their race to be fit for the future.

With the impact of the global financial crisis, aviation sector players can no longer count on cheap financing or fuel. With what strategy can sector players operate successfully within these new conditions?

Navigating to tomorrow: serving clients and creating valueThis report is the latest edition of a study celebrating its 20th anniversary this year. It is based on a survey involving 200 private banking and asset management organisations from over 50 countries, including 14 from Belgium.

Destination India 2013Despite a moderated growth rate from its previous peaks, India still compares favourably with many other economies. Yet, its growing rate still remains better than the one of emerging and developing economies.

After an impressive second quarter, PE investments in Q3 2013 13 have dropped by more than 50% in value and 31% in volume as compared to the previous quarter. Read more in our new edition of MoneyTreeTM India report.

A comparison of tax systems in 189 countriesPaying Taxes 2014 is a unique study which investigates and compares tax regimes across 189 economies worldwide, ranking them according to the relative ease of paying taxes.

The PwC Global R&D Incentives Group, part of the PwC Global International Tax Services Network, has assisted hundreds of clients around the world in structuring their R&D programmes, improving their return on investment in research and their effective tax rate.

How to make an impact on the bottom lineIn a world in which investors are more demanding, customers more fickle and competitors more aggressive in fighting for market share, pricing is one of the biggest levers you can pull to make an impact on your bottom line.

Communication reviewThe theme of this issue of the Communication Review is ‘Continuing to evolve’. We focus on emerging high-potential areas where operators have opportunities to get a head-start and leave their competitors trailing.

Tax and legal aspects of real estate investments around the globeReal Estate Going Global provides you with a summary of the tax and legal aspects of real estate investments from more than 50 countries.

Africa gearing upIn this report, we focus on ten selected economies on the African continent. We shed light on their demographic and economic situation, the frameworks in each country for trade and business and their transport infrastructure.

2013 outlook & analysis of 2012 US deal activityFind out more about the five key drivers of M&A activity for 2013 that PwC has identified in the report, 2013 deal insights for the Entertainment, Media and Communications industries.

Improving mobility without increasing the overall costs for the publicPwC and Febiac joined forces and reflected upon mobility in 2020. As a result they propose some tax shifts and concrete measures, with an eye on reducing the societal and environmental costs of congestion.

Just the beginningThis brochure will guide you through the essentials of the social security systems of 51 countries worldwide, acquainting you with their social security rates and benefits and helping you reduce your risks.

Rates and rules from over 150 countries at a glanceWith the increase of cross-border activities, tax professionals need detailed access to the current tax rates and other major tax law features in a wide range of countries.

While organizations have made significant security improvements, they have not kept pace with today's determined adversaries. As a result, many rely on yesterday's security practices to combat today's threats.

Prepare a Plan BWith approximately six months until the deadline and no ‘plan B’ being offered by the regulators, companiesare forced to rethink their approach to SEPA compliance. This new report presents the results of PwC’s latest SEPA Readiness survey.

Five golden rules for a winning culture in the insurance industryChange is here to stay. Your organisation’s culture can either help or hinder as you strive to adapt. Find out how you can shape attitudes and gain competitive traction from your culture.

Communication reviewIn this issue, we focus on the continually changing environment of our industry and how it demands that we constantly challenge, renew and improve our ideas and activities across the business.

What risks do insurers worldwide face in the current climate and how are they prioritising them?Worldwide ‘Banana Skins’ survey by CFSI and PwC pinpoints key concerns for insurers on the global as well as local market, Belgium included.

A potential surge in M&A deals between India and Europe is on the cards.With this report, PwC takes an in-depth look at how investors wishing to enter the Indian market through M&A can get to a valuation that reflects the risks and the rewards.

How digital technologies are re-inventing value for customers after the saleThe digitisation of consumption offers a new opportunity for brands to create new types of value of their customers after the sale of a product or service. This represents profound changes in the ways value gets created and consumed.

Global Immigration ServiceVisa and immigration services have been integral to the business of PwC for many years and form part of the suite of services provided to corporations who have an international focus and move people throughout the world.

“Inorganic growth is the solution”If you want to grow your business in today’s market, PwC is a well-known leader in mergers and acquisitions. From raising capital to buying a business or realising value through a sale or restructuring, our team can help.

Comprehensive reforms vs. a low flat corporate income tax rateIn the first six years of our study, Tax Freedom Day® fell on either 8 or 10 June but last year we saw a marked increase in the overall tax burden. The trend is confirmed: With an overall tax burden of 44.9% of GDP, Tax Freedom Day® 2013 falls again on 14 June.

SaaS pricing - Migrating to growthCompanies making the strategic choice of migrating their software business model from a traditional perpetual license to a subscription license-based software-as-a-service (SaaS) product are doing so to drive stronger long-term relationships and business growth.

PwC Global Survey on accounting and financial reporting by central governmentsThis report offers an insight on key aspects of government accounting and financial reporting to help answering one question: do we create or do we consume a legacy for the next generation?

Internal audit needs to reach for new heights...... or risk losing relevance as other risk functions become more vital to risk management. Now is the time for internal audit to realise the opportunity to increase the value they add to their organisations and maximise its contribution beyond its traditional areas of focus.

PwC provides solutions that are able to meet your business needs and mitigate risksWe’ve set up our own payroll system to provide payroll services in-house and make sure you’re complying with all the relevant standards, giving you peace of mind.

PwC's annual global survey of online shoppers tracks the rapid pace of change in how global consumers view the shopping experience and their online behaviours - and provides insights into how retailers can keep up.

Internet of Things: Evolving transactions into relationshipsThis issue of the Technology Forecast examines the impact of Internet of Things trends on businesses and the IT organization. It analyzes how businesses now have the ability to continue the relationship with customers after the sales transaction by helping them achieve the goals for which they buy the products.

How high growth market buyers are moving M&A in a new directionThe geography of deal-making is changing fast. Over the last five years we have seen more deal value flow from the high growth markets to mature economies than in the other direction.

Time to re-think how your people are rewardedHow to maintain skilled and talented people motivated and committed at the highest level? PwC and ISW Limits have teamed up and developed a way of reviewing and improving your rewards policy.

The second Act: Optimism returnsOptimism has returned to Europe's real estate industry. Sentiment among industry leaders about the prospects for their businesses is more positive than at any time since 2008, despite the uncertain macroeconomic outlook. Equity for investment in prime commercial real estate is expected to increase, but bank debt is predicted to contract further.

Visa and immigration services have been integral to the business of PwC for many years and form part of the suite of services provided to corporations who have an international focus and move people throughout the world.

Visa and immigration services have been integral to the business of PwC for many years and form part of the suite of services provided to corporations that have an international focus and move people throughout the world.

Visa and immigration services have been integral to the business of PwC for many years and form part of the suite of services provided to corporations who have an international focus and move people throughout the world.

3D entertainment 2012Looking at the past two years in the 3D entertainment market, we now see a lull in an industry that appears to have lost momentum and faces strong headwinds, after the early success of 3D and the record-breaking accomplishments of Avatar in 2009.

The treaty allows Hong Kong companies to use Belgium as an overseas holding company and investment location, leveraging on Belgium’s efficient domestic infrastructure and extensive network of international tax agreements.

On 7 October 2009, a new treaty and protocol on double taxation were signed by Belgium and China. Once it comes into force, it’ll replace the Belgian–Chinese income tax treaty of 18 April 1985, as amended in 1996.

Chapter 6: Government and production growth scenariosHow will China's IC industry perform against new growth scenarios similar to those originally proposed in 2004? Not surprisingly, it is most likely to achieve the moderate scenario. But what will it take to get there?

Reformatory steps from the government, seemingly keen to appease the investor community, provided a big boost to investors’ sentiments during Q4. The revival in the stock markets also helped as well as the successful IPO from Barthi Infratel.

The business world is in the midst of fundamental change and in the next decade the ability of organisations to manage their global talent efficiently will mark the difference between success and failure.

Laying the foundations for the future of insurance reportingAs your business reﬂects on both the changing shape of the Solvency II timetable and the eventual move to a new IFRS standard for insurance contracts, how can you build a durable platform for regulatory and ﬁnancial reporting in the future?

The world's taxes at a glance: Rates and rules from over 150 countriesWorldwide Tax Summaries – Corporate Taxes 2012/13 is a useful reference tool, to help you manage taxes around the world. It offers quick access to information about corporate tax systems in 152 countries worldwide, in an easily digestible format.

Finance function, the day after tomorrowFinancial teams play increasingly a crucial role in strategic decision making. Having become accustomed to operating in a volatile environment, what businesses most demand from finance is the forward-looking insights required to help them compete in local, regional and global markets.

The business value of APIsThis issue of the Technology Forecast examines how enterprises can engage with the challenges and opportunities stemming from SMAC (social computing, mobile computing, analytics and cloud computing) trends by scaling integrations and participating in expanding digital ecosystems.

Intangible assets -- including advertiser relationships and drivers of market share -- are often key components of entertainment and media (E&M) business value. As consumer trends in the E&M industry continue to evolve, measuring and reporting intangible assets value has become increasingly complex in the Digital Age.

At PwC we have a long-term commitment to both the Belgian and Indian markets, and have helped many companies from both countries make successful cross-border investments. In the aftermath of the global economic downturn, cooperation between companies and between countries has become even more important.

The Bribery Act represents a significant change to UK law in this area of business and commerce. Companies need to review how they behave to avoid being caught out. The stakes are high and the time to act is now.

Communication reviewOne region of the world stands out as a vast opportunity for untapped growth: Africa. So the theme for this edition ― Africa: innovating and inspiring ― not only is timely but also reflects the future of the industry there.

Biotech - What's next for the business of big molecules, will help understand today’s situation for the Biotech industry and how things have changed since 2010 when we published our first report Biotech reinvented: Where do you go from here?

This paper explains the four key reasons telecom companies allocate capital inefficiently. It identifies 12 shared attributes of a well-designed capital management programme and is applicable to any type of organisation: fixed, mobile or cable, whether a new entrant to the market or an established major telecoms operator.

The talent crisis is here and now and is threatening business growth and economic prosperity. Discover the CEO’s opinions on strategic talent management, potential talent shortages and availability of comprehensive HR management information.

Financial services are set for transformation as their role, industry structure and commercial realities are disrupted by the major trends currently reshaping the global economy. Many businesses will be unrecognisable by the end of the decade and the list of market leaderscould be very different assmart and agile players leapfrog slowermoving competitors. Will your business model still be relevantin the new global economy? How can you take advantage ofthe shake-up ahead?

Financial services are set for transformation as their role, industry structure and commercial realities are disrupted by the major trends currently reshaping the global economy. Many businesses will be unrecognisable by the end of the decade and the list of market leaderscould be very different assmart and agile players leapfrog slowermoving competitors. Will your business model still be relevantin the new global economy? How can you take advantage ofthe shake-up ahead?

A joint undertaking of PwC and the Urban Land Institute, Emerging Trends in Real Estate® Europe is a trends and forecast publication now in its ninth edition. The report provides an outlook on European real estate investment and development trends, real estate finance and capital markets, property sectors, metropolitan areas, and other real estate issues.

Will emerging market exchanges have the sophistication and infrastructure to challenge the IPO services offered by incumbent exchanges in the West? Where will the companies looking to list come from? What are the drivers behind the change in capital market dynamics?

Communication reviewThis issue is published on the heels of our annual Global Communications Forum, where speakers and participants engaged in lively, insightful debates on the event’s overarching theme, ‘Visualising 2015’.

A deal-maker’s guide to growth economiesDoing deals in growth markets is a topic that features regularly in our client conversations. For many companies doing a deal isthe best – or only – way of tapping into growth markets, largely because it is faster than going-it-alone.

This is a summary of the findings on talent availability, deployment and management in the financial services sector, based on interviews with 368 financial services CEOs (121 from insurance, 125 from asset management and 122 from banking and capital markets) in 52 countries.

Our first global survey of online shoppers reveals a world rife with online "experts" who shop across all product categories, not just music or books. This online savvy comes with increased demands for faster service, more selection, and more transparent information in shipping and tracking of goods.

In today’s business environment, we very often observe a vast majority of business initiatives aimed at cost reduction, productivity, customer service, workforce efficiency, etc. that are influenced by technology.

The trillion dollar question: can bail-in capital bail out the banking industry? Bail-in capital is central to the design of Basel III. Basel III and CRDIV, which will have the force of law, require all new nonequity capital from 1 January 2013 to have a new bail-in feature.

The world's taxes at a glance: rates and rules from 146 countriesWorldwide tax summaries – Corporate taxes 2011/12 is a useful reference tool to help you manage taxes around the world. It offers quick access to information about corporate tax systems in 146 countries worldwide, in an easily digestible format.

Transforming collaboration with social toolsThis issue explores how to confront communications overload and boost collaboration potential by making best use of the new powerful social tools. Business is inherently social, which is why collaboration and communications that scale are so fundamental.

How ﬁnancial institutions can re-engineer their risk management capabilities to make them a more active contributor to business decisions and a valuable source of strategic insight and competitive advantage.

AM NewsIn this issue of Asset Management (AM) News we look at how investors' view of value has changed. Performance is still essential but investors are now looking for a competitive fee, strong infrastructure and increased transparency. In this issue, we highlight areas where asset managers can respond to these raised expectations.

Decoding Innovation's DNAThis issue examines enterprise innovation and the role of information technology. It answers the question, is innovation the result of inscrutable, opaque genius, or can innovation be treated as an end-to-end process subject to performance optimization by adopting proven methods and systems?

Unleashing enterprise mobilityIn this issue of Technology Forecast, we examine how the current generation of smart handhelds implies more opportunities for enterprises than might be obvious at first glance.

Poor stress-resilience, the inability of some banks to react to the liquidity crisis, the incredible leverage acquired by certain institutions, the systemic and contagion effects, the need to better manage the pro-cyclicality of the banking industry, the importance of stronger equity bases, the lack of transparency.

The countries surveyed have on average 45 taxes,while we have more than 90; total taxes borneand collected by the companies in the Belgiansurvey amount to almost 16% of their turnover.The average total tax rate for the countriessurveyed is approximately 37%, in Belgium itremained stable at roughly 52% of profit beforetotal taxes borne – the highest among thecountries surveyed, and a clear indication thatcompanies are contributing their fair share togovernment tax receipts.

41% of respondents stated that the risk of job loss is the primary incentive to commit fraud and individuals are better able to rationalise their actions when in this situation.redundancies result in reduced segregation of duties offering more opportunity to commit fraud.

We are delighted to present our fourth Engineering and Construction(E&C) sector Global Economic Crime Survey. Our survey scrutinisesfraud and associated integrity risks during a period in which mostterritories around the world experienced either a dramatic economicdownturn or at the very least a significant slowdown. Against thisbackdrop, the survey investigates the root causes of economic crimeand the way in which it affects businesses worldwide.

the top fears were over-regulation (which, it was felt, might squeeze the life out of the industry) and naturalcatastrophes. Now, it is all about investment performance, equities and capital availability.

Paying Taxes, a unique study from PwC and the World Bank Group, measures the ease of paying taxes across 183 economies worldwide by assessing both the cost of taxes and the administrative burden of tax compliance.